The Greater Toronto Area (GTA) communities that experienced strong activity in the first half of June are:

• Richmond Hill South (N03) experienced strong detached home sales, which resulted in a five per cent increase from mid-June 2007.
• In Caledon (W28) detached home transactions led to a nine per cent increase in sales over the same period a year ago.
• Condominium apartment transactions also drove West Agincourt (E05) to a 24 per cent increase in sales compared to the same timeframe a year ago.
• In Riverdale (E01) transactions increased 28 per cent compared to the first half of June 2007 driven by strong condominium apartment sales.

Resale home prices continued their upward trend in the first half of this month

The Greater Toronto Area (GTA) average price is currently $398,542, up four per cent over the $384,576 average from the same timeframe a year ago and up 11 per cent from the $358,648 recorded at mid-June 2006.

TREB mid-April existing-home sales figures wash away fears of Toronto real estate collapse and prove 'doomsayers' wrong. It was nasty winter weather and recently introduced Toronto Municipal Land Transfer Tax (LTT) that kept both buyers & sellers on the fence and contributed to the sluggish first quarter.

GTA Real Estate Market Heating up: Top Performing Neighbourhoods this Spring

• Willowdale (C07) saw a 75 per cent overall increase in transactions, driven by strong, detached, condo-apartment, and condo-townhouse sales.
• In Vaughan/Thornhill (N02), transactions increased by 53 per cent compared to mid-April 2007, as a result of strong detached home sales.
• Strong detached home sales also drove Brampton East (W24) to 37 per cent compared to the same timeframe a year ago.
• In Riverdale (E01) transactions are up 10 per cent, also as a result of strong detached home sales.

Greater Toronto Area Home Prices have Risen 7%

Sales of existing homes in Greater Toronto Area set an annual record early!

TREB, November 19, 2007 -- 2007 has already become the best year on record for resale homes in the Greater Toronto Area. 84,994 properties have changed hands, as compared to 84,145 sales in 2005, our previous best year, Toronto Real Estate Board (TREB) President Maureen O’Neill announced today. "All of the economic conditions remain in place for a strong housing market in the GTA. The unemployment rate fell by approximately half a percent last month, Statistics Canada anticipates sustained immigration throughout the next decade and mortgage rates remain historically low," said Ms. O’Neill. "Toronto is a very vibrant city in which to live and compared to other urban centres like New York, Los Angeles and London, our housing is very affordable."

Toronto Star, November 20, 2007 -- "Generally speaking, it's odd to see a real estate cycle last this long," says Ted Tsiakopoulos, Ontario regional economist for the Canada Mortgage and Housing Corp. "It seems we've reached a new paradigm where low interest rates, low inflation and a steady job market have kept this going a while longer than most people thought." Other factors at play in 2007 include the introduction of longer-term amortizations in the market, which has allowed new buyers to get a foot in the door, and higher new-home prices that have pushed people back into the resale market, says Tsiakopoulos.

November GTA Home Sales Highlights

TORONTO, August 3, 2007 -- Last month, the local resale market was 26 per cent more active than during the same time in 2006, TREB President Donald Bentley announced today:

• Transactions in Richmond Hill (N04) increased 77 per cent over July 2006, due to a 100 per cent increase in Attached / Row-House sales and strong performances in most other house types.
• A large increase in Condominium Apartment sales was responsible for a 40 per cent increase in total sales for North York (C14). There were 5,115 sales in the North York area (C04,C06,C07 and C12 through C15) during the first seven months of 2007, up 12 per cent over the 4,583 sales recorded during the same time-frame in '06. The average price came in at $488,663, a five per cent increase over last year.
• Strong sales of Detached Homes and Condominium Apartments in the South Humber part of Etobicoke (W07) contributed to a 116 per cent increase in total transactions over the same time last year.
• Home Buyers are flocking to live in Riverdale area (E01), which saw a 73-per-cent increase in sales from the previous July.